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Drake & Scull appoint Mr Yousef Al Mulla as news Group CEO

Infra News - Published on Fri, 17 Aug 2018

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Gulf News reported that Drake & Scull International (DSI) has appointed a new chief executive officer and announced it is continuing to develop a new restructuring plan after posting half-year losses of AED 183 million. The firms attributed the losses to cost over-runs in non-performing subsidiaries in Oman, Qatar and Jordan.

It said a rise in the cost of financing to service project debt in secondary markets during the second quarter was also a contributory factor.

The half-year losses follow full-year losses of Dh1.39 billion in 2017.

Mr Yousef Al Mulla will take over as Group CEO from August 26, replacing Dr Fadi Feghali, who was appointed in March this year.

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Posted By : Nanda Koijam on Fri, 17 Aug 2018
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